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Business News

UK: Competition regulator gives Heineken green light in Punch Taverns takeover

21 Aug 2017 --- Britain’s competition watchdog says Heineken’s proposal to sell off pubs in 33 areas does satisfy previous antitrust concerns about the US$519 million takeover of Punch Taverns. 

Valio’s new €170m dairy production plant begins operation

18 Aug 2017 --- Finnish dairy business Valio is celebrating the grand opening of its new €170 million (US$199.8 million) eco-friendly plant geared up to innovate with new snacking recipes, experiment with sugar reduction and work with fats and protein. The dairy production plant took three years to build, covers an area of around 53 hectares and will give the Finnish dairy experts, an annual production capacity of 120 million kilos of yogurt products.

Ajinomoto Co. accelerates expansion in Turkish market

18 Aug 2017 --- Ajinomoto Co., Inc. has acquired an additional 50 percent of the stock of Kükre A.S., a food company in Turkey, for approximately TRY181 million (US$51.2 million) and made it a wholly owned subsidiary. With this acquisition, Ajinomoto Co. will accelerate business expansion in Turkey with the intention of further strengthening its operations in the Middle East.

Hochdorf expects “demanding” market for milk and lowers annual projections

17 Aug 2017 --- In the first half of 2017, the Hochdorf Group generated gross sales revenue of CHF312.1m (US$323m), up more than 12 percent on the previous year with Pharmalys Laboratories SA cited as being primarily responsible for these higher earnings. 

Frutarom reports record quarter, continues to implement growth strategy

17 Aug 2017 --- Frutarom’s sales in the first half of 2017 rose 15.8 percent to a half-year record of US$646.1 million compared with US$ 558.0 million in H1 2016, reflecting 6.1 percent year-over-year growth in pro-forma terms on a constant currency basis. Frutarom’s sales in the second quarter of 2017 rose 14.4 percent to a record US$ 343.6 million compared with US$300.2 million in the parallel quarter, reflecting the year-over-year internal growth of 6.8 percent in pro-forma terms on a constant currency basis. 

DSM Nutritional Products appoints new Asia Pacific leadership

17 Aug 2017 --- Global science company Royal DSM has announced two new appointments, effective September 1, 2017, which come as DSM continues to drive growth in Asia Pacific. With its nutrition business cluster now spanning multiple industries, DSM is creating new opportunities through high-performing science-based products and solutions that cut across nutrition and health.

Greenyard Group secures Entrade biomass energy units for two UK sites

17 Aug 2017 --- Frozen vegetable company Greenyard Frozen will receive new Entrade biomass energy units to provide clean electricity, heating and cooling for two UK sites. Thirty-two new biomass units will replace old gas boilers and electric heating units at Greenyard Frozen’s operations at Kings Lynn and Boston, achieving overall CO2 emission reductions of approximately 10,000 tons per year.

FrieslandCampina simplifies organization, strengthens strategy in dairy ingredients

16 Aug 2017 --- Royal FrieslandCampina N.V. intends to simplify the organization into four global business groups: Consumer Dairy, Specialised Nutrition, Ingredients and Basic Dairy. A less complex structure will enable FrieslandCampina to more respond to the market developments more efficiently and to allow innovation with strategic priorities. The objective of the new structure is to further improve the company both operationally and commercially, generating more value for the member dairy farmers. The new organization will be operational as of 1 January 2018.

Mars makes a move for Asian food brand Tasty Bite

16 Aug 2017 --- Mars Food has announced the definitive agreement to acquire the owner of Tasty Bite – a brand of ready-to-heat Indian and Asian food products, Preferred Brands International. The Connecticut-based manufacturer and marketer sells under the Tasty Bite brand, offering a wide range of vegetarian and Asian inspired dishes. 

Carlsberg first-half profit beats estimates

16 Aug 2017 --- Danish brewer Carlsberg has reported strong H1 profits that beat analysts’ estimates, but the beer giant has not changed its full-year profit forecast. It says how strong earnings growth and cash flow leaves the company “well on track to deliver on key priorities for 2017” after it has reduced costs and cut debt. 

Indian-French JV plans new dairy plant

15 Aug 2017 --- One of the largest private sector dairy enterprises in Southern India, Heritage Foods, has joined forces with French dairy firm Novandie to set up a 50:50 joint venture, for a new dairy plant in France. Novandie, a subsidiary of French Food company Andros, and Heritage Foods will manufacture flavored yogurts and desserts, according to reports in the Indian press.

FiE invites leaders and start-ups to apply for 2017 Awards

14 Aug 2017 --- “Thought Leadership”, the guiding concept for this year’s Food ingredients Europe, is echoed in the 2017 Fi Europe Innovation Awards. With ten newly created categories spanning all industry sectors, the Awards recognize and reward the ability to demonstrate and stimulate innovation. Especially for young start-ups, FiE offers an exclusive platform: After last year’s inaugural success, the second Start-up Innovation Challenge invites companies to share a pioneering project with a broader audience. 

Schwan’s Company enters into partnership to propel shrimp production

14 Aug 2017 --- Schwan’s Company and the tru Shrimp Company, an affiliate of Ralco have announced a strategic partnership designed to help propel in-land shrimp production forward. As part of the new partnership between the Minnesota-based companies, Schwan’s Company is making a significant investment in the tru Shrimp Company. Terms of the partnership have not been disclosed.

Nutritional segment drives Glanbia’s robust H1 results

14 Aug 2017 --- A strong performance in Glanbia’s nutritional division was the key growth driver in 2017 half year results which show the group’s revenue has increased by almost 10 percent to €2bn (US$2.4bn). According to the Ireland headquartered group’s interim statement, half year results for the six months ended 1 July 2017 show a good performance driven by Glanbia Nutritionals.

Arrests made over Dutch eggs scandal

11 Aug 2017 --- Investigators in the Netherlands and Belgium have arrested two company directors in connection with the fipronil contamination scandal that has significantly deepened this week as eggs all over Europe have been taken off shelves. 

Novozymes reports strong Q2, driven by organic sales growth and nutrition

11 Aug 2017 --- Novozymes has announced its results for the first half of 2017, the company reported a good first half with 3 percent organic revenue growth which was better than expected. Food & Beverages sales grew by 8 percent organically and by 10 percent compared with H1 last year. In Q2 year on year, organic growth stood at 10 percent and 12 percent. 

Univar eyes sodium reduction in bakery, extends distribution with Kudos Blends

11 Aug 2017 --- Univar BV, a subsidiary of Univar Inc., global chemical and ingredients distributor, has extended its distribution agreement with Kudos Blends to cover the Pell brand of innovative raising agents, including sodium reduction solutions. The now exclusive agreement spans across Europe. 

Constellation Brands buys high-end beer company Funky Buddha

11 Aug 2017 --- Constellation Brands, Inc., has announced its purchase of Florida-based Funky Buddha Brewery, reinforcing its strategy to lead the high-end beer segment in the US. Terms of the transaction have not yet been disclosed.

Kerry downsizes its growth outlook while topping US$3.5 billion revenue mark

10 Aug 2017 --- Group revenue increased by almost 5 percent topping the €3 billion (US$3.5 billion) mark for Irish food giant Kerry in its half year results, but the company’s outgoing chief executive has warned that full-year profits will be lower than expected. The maker of Irish butter, cheese and sausages, has been feeling the impact of adverse currency movements since Brexit which sent sterling tumbling and has left the currency volatile ever since.

IFF achieves robust sales in Q2

09 Aug 2017 --- International Flavors & Fragrances Inc earnings gained ground in the second quarter as income climbed slightly with the company reporting “a strong sales performance”.